Keith Peiris

One of my proudest moments as an investor occurred today as Alaffia Health announced its series A because it shows how the Aperture® Venture Capital vision of multi-level, multi-generational #impactinvesting is succeeding in the marketplace. Here’s the model in its most basic form : ✅As diverse fund managers with meaningful capital to allocate, we are changing the VC landscape every day just by doing our day jobs. ✅As Black/Brown investors with ~40 years experience collectively, Aperture GPs have access to talent /excellence that others do not, so our portfolio *organically* is more inclusive by race, gender and geography even while optimizing for financial outcomes (all about the alpha). ✅Our most successful portco’s are using financial #innovation to solve market problems that impact underrepresented demographics and underserved communities. Alaffia Health is a shining example of the impact portion of our overall fund thesis, and we couldn’t be prouder of TJ Ademiluyi and Adun Akanni, MPH, PMP - the dynamic brother-sister founder duo whose vision we have steadfastly supported on their journey. Congratulations to TJ and Adun from William Crowder and myself, as well as the whole Aperture team- Marjorie King Philip McKenzie Yves Louis-Jacques Tanvi Lal Michelle Dhansinghani Lisha Bell Katie Kelly Amy Chung Cindy Chong, CFA Brian Fernandes-Halloran Monroe France Jayden Pantel Darren Herman Evan Wladis Neal Triplett Thomas Scriven Peter Ammon Irina Bit-Babik Tim Milanich Rob Rahbari

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Ro consistently uses tech to tackle healthcare problems (often for free). 🧑‍⚕️ In March of 2020, Ro launched (completely free) COVID telehealth assessments. ❤️ In March of 2021, Ro launched (also free) in-home vaccinations for some of NY’s most vulnerable seniors. 💉 Fast forward to today, Ro is tackling the GLP1 shortage. They just launched a GLP-1 Supply Tracker that anyone can use to get real-time updates about GLP1 drug shortages and alerts when supply is available nearby. Oh, and this is completely free too. Huge shoutout to Ro, building what patients need and making it accessible to those who need it. Check out the GLP1 Supply Tracker here: https://776.vc/3X1FovB (the more who use it the better it works, so share with those who could benefit).

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Ro consistently uses tech to tackle healthcare problems (often for free). 🧑‍⚕️ In March of 2020, Ro launched (completely free) COVID telehealth assessments. ❤️ In March of 2021, Ro launched (also free) in-home vaccinations for some of NY’s most vulnerable seniors. 💉 Fast forward to today, Ro is tackling the GLP1 shortage. They just launched a GLP-1 Supply Tracker that anyone can use to get real-time updates about GLP1 drug shortages and alerts when supply is available nearby. Oh, and this is completely free too. Huge shoutout to Ro, building what patients need and making it accessible to those who need it. Check out the GLP1 Supply Tracker here: https://776.vc/3X1FovB (the more who use it the better it works, so share with those who could benefit).

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"In H1 2024, U.S. digital health startups raised $5.7B across 266 deals🤑. If investment patterns continue, 2024 could exceed 2019 and 2023 year-end totals ($8.2B and $10.7B, respectively)." - sounds promising and inspiring, doesn't it? [Link to report in comments👇] As our company builds customer software solutions for various industries, including HealthTech🏥, I've been diving deep into recent reports. And I've compiled a list of some insightful HealthTech reports and resources!📈 Just drop a comment with "HealthTech"✍ and I'll send this list of useful resources to you📩 #healthtech #startup #startups #healthtechindustry #digitalhealth #healthtechsoftware #healthtechstartups

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Appreciate the #LeedsDigitalHealth shoutout Vladlen Shulepov! 🙌 Some very exciting and innovative digital health businesses listed here, well worth checking out.👇

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Solve for information asymmetries! Architecture & Civil Engineering - Layout interpretation ~other industries: Healthcare - <Prescription> interpretation Financial Products - <Subject to market risks documentation> interpretation Loans - <Fine print> interpretation There’s going to be a slew of startups commercialising this year with a value prop of simplification using AI

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I am torn by this as well. When I see a new platform shift, I see the opportunity for a shift that benefits the end user. The ultimate end user in healthcare is the patient. In the current model, the structure is to chase revenue by driving it up or maximizing profit. The AI platform shift, targeting low-hanging fruit like administrative efficiencies, follows this path. It's reminiscent of the famous quote: "We wanted flying cars, but we got 140 characters." The same thing is happening all over again, without truly challenging the status quo. Maybe AI can help people get less sick, prevent disease, and navigate spending less money in the first place. But in the current model, it's difficult to get penetration. Ultimately, everyone needs short-term metrics and traction to raise another round of funds. I am not criticizing those who play this game. I respect them for playing it well. However, they shouldn't position themselves as lowering costs for patients by decreasing administrative costs. The trickle-down effect simply doesn’t work.

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Marques Brownlee -aka MKBHD's 41-second review and the fall of a $230M AI startup. It took less than a minute for MKBHD to share his skepticism about the Humane AI Pin, a new entry in the wearable tech market with a price tag of $700 and a $24 monthly subscription. Towards his review, he couldn't find any added value to the product. The aftermath is rapid: - Social media bad buzz - Absolutely not recommended for purchase Conclusion: 1/ The hype of startups 🦄: Especially in tech, they operate under immense pressure. With investors pouring millions into what they hope will be the next big thing, the stakes are incredibly high. 2/ The creator economy and its influence 🤳🏽: This is a prime example of the creator economy’s impact on traditional business models, especially in technology. Influencers and content creators like MKBHD have an enormous power. Their opinions can validate or condemn products overnight, influencing not only consumer behavior but also investor confidence and market dynamics. 🫸🏽 Don't build before you talk to people. Attached is the video of Humane gravestone 🪦.

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The GLP-1 space has continued to explode, with the potential for impact expanding to cardiovascular risk, sleep apnea, and liver disease. So who are the emerging players poised to challenge Lilly and Novo? The incoming players to watch are a mix of startups and incumbents. In the startup realm, Viking Therapeutics, Inc., and Altimmune, Inc. have gained significant attention as their GLP-1 candidates demonstrate solid weight-loss outcomes. For San Diego based Viking, weekly doses of VK2735 delivered weight loss of up to 13% compared to placebo in a Phase 2 trial. Perhaps most exciting, the weight loss did not plateau at any time during the 13 week study, suggesting longer duration doses would result in further weight loss. Meanwhile, Altimmune's Pemvidutide (being studied for both obesity and MASH) is on track for an end of phase 2 FDA meeting in Q3 of this year. Notably, Pemvidutide has showed promise in limiting the amount of weight loss derived from muscle, which is a notable problem with the existing GLP-1s. A recent phase 2 trial showed only ~25% of weight loss was from lean mass, more in line with the ratio seen in typical diet & exercise programs. There are also several incumbents working hard to establish their presence. Roche's $2.7B acquisition of California-based Carmot Therapeutics, Inc. Therapeutics in December and Amgen's MariTide are both notable. Roche recently announced data from a Phase 1B study for CT-388 showing placebo-adjusted weight loss of ~19%, with 85% of participants seeing weight loss of more than 10%. Not to be left out, Amgen has recently advanced MariTide into Phase 2 studies, with Phase 1 results published in February showing weight loss of up to 15% in 12 weeks, with some dosage levels only required once a month. To have a credible chance at challenging the existing market leaders, new GLP-1s will have to demonstrate meaningful improvements on the following: 1. Dosage - most approved therapies today (with the exception of Rybelsus) are subcutaneous injections, given weekly. Having an easier form (tablet) or frequency (bi-weekly or even monthly) would be a big advantage. 2. Preservation of lean muscle mass - helping patients derive weight gain from regular adipose tissue instead of muscle mass. 3. Benefits beyond weight loss. Novo's recent FDA label expansion for Wegovy for reducing the risk of serious cardiovascular events provides a blueprint of how to expand the area these medicines can be helpful in. While there are many companies active in the space, it's worth noting just how large a lead Lilly and Novo have in this future $100B+ market. A recent GlobalData report noted that even by 2029, these two giants will have ~80% of the market between them. That said, 20% of a $100B market is still a sizable prize for other innovators, and continued innovation will only help patients.

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💡Benchmarks in the investment industry serve as a standard for measuring the performance of securities, mutual funds, or investment managers. They provide a reference point for analyzing allocation, risk, and return of a portfolio, enabling investors to make informed decisions. Thanks Peter Walker for keeping us all informed!! Can’t wait for this!! Follow and get on the waitlist for this one! #benchmarks #fundraising #Capitalraise #founders #womenshealth #femhealth #medtech #wellness

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I’m a lucky man - I get to talk about stuff I care about with people that feel the same way, but know how to approach it in fresh ways. This chat with Josh Au Yeung goes into another area I think needs much more attention - leadership. NHS providers recently published data showing only around a third of NHS CEOs have a clinical background: https://lnkd.in/givrbU_p . When evidence suggests that expert leadership is strongly associated with better outcomes, happier staff, and greater productivity, we need to work harder to identify, train, and support current and future clinical leaders. The burning question is this: when it comes to #HealthTech , who is the expert leader? A technologist? A clinician? A hybrid? Would love to hear your thoughts on this (and the podcast, naturally)

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#Longevity Tech is on the rise ✌️ -Endeavor BioMedicines raised $135M at a $795M valuation in April 2024. -Humanaut Health secured an $8.7M Seed round, valued at $52M in May. -Superpower raised $4M, reaching a $24M valuation in May as well. These are just 3 of the 90+ #longevity startups highlighted in Dealroom.co's latest report (Link in the comments). In this newsletter, I dive into the Longevity Technology Market and the emerging trends shaping the future of health! 👉 https://lnkd.in/e3EZrAPH #Longevity #HealthTech #StartupFunding #Innovation

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Health and Wellness is a wave, and integrated care will be (and already is!) the defining characteristic of most winners. Many DTC healthcare companies are putting money into Meta/Google, and getting patients out. Something similar is possible at a Doctor's office, with a significantly lower CAC. Put in resources, get patients out. I think this is a compelling distribution channel for a lot of wellness companies--Pharmacies, Gyms, Nutritionists, Therapists, Longevity etc. Because if you're a healthcare company, chances are the people who you can impact the most (and who may be the most motivated to use your product!) are those at the Doctor's office. Yes it will be non-trivial to set up distribution through clinics... but those nuances are just a barrier to entry for your competitors. The rise of multi-clinic operators makes this extra powerful right now.

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Just over a year ago, Imran Mahmud, MD introduced to me what was then called, Co:Helm. I was taken by the backgrounds and stories of Abdel Mahmoud, MD, Zahid Mahmood & Tahseen Omar and moreso their grit and determination to forge ahead with their mission of reducing the cost of healthcare. They soon got into the Sequoia Arc program with the backing of another friend, George Robson. And have been staying low and building ever since. Inbetween rebrandng to Anterior (formerly Co:Helm). And even more recently announced a new round to add more fuel. https://lnkd.in/e3V4qrRz Happy to be a supporter alongside Annelie Ajami, Dorothy Chou, Adil Mohammed, Andy Young, Caroline Mogford, Christian Arno, Felix Leuschner, Freddy Kelly, Leonard Picardo, Mandeep Singh, Michael Steel, Omid Ashtari, Noor Shaker, Sultan Murad Saidov, Yuelin Li and others in the ecosystem... [Anterior is giving clinicians a second set of hands—and fixing one of the biggest pain points for patients. It is a LLM-powered co-pilot for administration, handling all the work that comes before the clinical decision-making. Where it might take a nurse several hours to track down, organize and summarize hundreds of pages of records they need, Anterior can do it in seconds, allowing clinicians to increase their output tenfold and focus on what matters most: helping patients.] #healthcare

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Suppose you are a VC, Early investor, or CIO trying to keep your eye on the industry trends. In that case, you’ve probably heard already about hallucinations, context shifts, and accuracy measurement problems in LLMs. These scary concepts kill motivation to invest in LLM-based projects and build RnD departments. Are they really so scary? Yes, but just for now, you have a good strategy to cope with them. Is this strategy already known? Yes, old but still one of the most effective approaches- knowledge graphs in combination with fresh new RAGs will allow you to keep your models free of hallucinations, stable in accuracy, and easily adaptable for context change. Btw, do you know that knowledge graphs are seeing as one of the most impactful AI enables during this year?🙌🏻 How big companies like Deutsche Telekom and Microsoft are seeing the future of LLMs adoption you can find here https://lnkd.in/d4B3t56z

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We'll be launching Gravel AI's first insight-led public demo. Every second of the demo contains actionable real insights 👇 1. Ingredient trends Fast growing mainstream actives in face serum in USA in past 6 months: Adenosine +69% Arginine +42% Ceramide np +38% Ingredient opportunities in face serum actives (niche, fast growing demand, slow supply): Arginine pca +530% market adoption, +0% supply Helianthus annuus seed +425% market adoption, +0% supply Prunus persica leaf extract +320% market adoption, +0% supply 2. Contract manufacturers intelligence Select AIRCOS. Discover it's used by Benefit Cosmetics. Select Benefit Cosmetics. Discover other contract manufacturers it uses, including Capsum. Select Capsum. Discover other brands they serve. 3. Ingredient manufacturers intelligence Select the most commercially successful newly launched shampoo in USA in past 6 months: Garnier's Whole Blends Honey Treasures Repairing Shampoo. Detected matching proprietary blend used in the shampoo: Galaxy Surfactants Limited's Sparkle 660. View other brands that use the blend: Pantene Shampoo, Nizoral, SACHAJUAN HAIRCARE . Register to watch the public demo using this link (recording available!): https://lnkd.in/eRJBhfPd #ai #publicdemo #personalcareindustry #industryintelligence #ingredientintelligence

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Have you heard of #CapVC? It’s an application platform designed specifically for the use of #VC firms. Essentially, it’s a robust #AI-powered tool made to simplify the daily operations of managing a #fund. Isn’t that something, a VC funded start-up designed to help improve the productivity of VC funding! According to this article from TechCrunch, Cap VC is looking to become much more than just an ‘operating system’ — the company aims to be a simplified and extremely efficient way to run a VC firm: reducing digital clutter by turning PDF files, income statements and balance sheets into readable data, automating company suggestions based on the context of a VC’s portfolio, and more. Cap VC is currently developing native apps on Mac and Windows, alongside releasing an API so that developers can build on top of their foundations. So, are any of my fellow VCs interested in using this software? If not Cap VC, is there any interest for similar software to be created down the line? Are there downsides to using a third-party application like this? I want to know what you all think.

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I had the great pleasure of sitting down with a startup CEO, a medical professional, who wanted to get ahead of codebase health before her product went to the App stores... (stay tuned for a plug of her product) We came upon an analogy for understanding code metrics to health care metrics. I thought it was a great way to think about what we do at Sema and how we partner with technologists. There are three levels of understanding metrics about code, just like three levels of understanding patient information. The first level is the raw data. In health care, that could be a blood pressure reading. In code metrics, that could be the raw count of high-risk security warnings from Open Source code, aka CVEs. In both cases, we can make some general statements: it is generally better to lower your blood pressure; it is generally better to have fewer CVEs. But that guidance is quite generic. The second level is benchmarked results. In the health care example, that could mean blood pressure levels among men in their fifties. For code, that could be high-risk CVEs among tech companies that are at least 5 years old and 100-250 all-time developers. The trick is to get a comparison group small enough to be useful, without overfitting and missing the big picture. The question of specificity vs. generalizability is not an easy one. Benchmarked results are a big improvement over raw data, but it's still not enough. That's why a third level is needed: expert discussion. Of course in medicine that looks like a conversation with a health care professional. With code stats that looks like an Engineering expert, whether a sophisticated CTO, a Tech Operating Partner, or an external Advisor. The best experts, whatever hat they wear, know the details of their field while also being able to explain the results to a broad audience. That expert discussion leads to further contextualization of the results-- understanding the patient's family history / cholesterol levels / heart rate variability, or maybe the codebase is safely behind firewalls and for internal use only. Perhaps even more important, that expert can start shaping the improvement plan. What does that mean for Sema? At the raw data level, we have collected the broadest set of codebase health metrics for a deep and diverse set of software organizations. For benchmarked results, our Snapshot gives a ready comparison of codebases compared to organizations of similar size and stage. For experts, we are honored to partner with many outstanding experts, who can take the scan results combined with their own investigation and insights and guide their "patient" to the next level of success. I am the son of a computer programmer and a math teacher, so my heart (and genes?) will always be with looking at data to make things better. A proper approach to data-driven improvement covers all three levels.

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Is that really a death sentence for smaller startups? I don't think so. Alright, let's take a step back and look at this DTC healthcare situation from a different angle… Sure, the market is tough right now, and big players like Hims are trading at lower multiples than we'd like. But here's the thing: tough times are GOOD. Tough times are when the real innovation happens. It sucks in the moment, but it forces you to get creative and build something sustainable. The same goes for DTC healthcare startups. Instead of relying on endless rounds of VC funding to fuel growth at any cost, these companies now have to focus on the fundamentals — just like every other medical practice and healthcare system out there. All things must eventually survive without huge churn. They have to figure out how to; acquire new customers efficiently, retain them for the long haul, and actually turn a profit. 👆 Crazy concept, right? Some startups might not make it through this rough patch. I’m not one to sugarcoat that. But the ones that do will come out stronger and better equipped to tackle the real challenges in healthcare. With proven business models, loyal customers, and the grit to keep pushing forward even when the going gets tough. Before Side Health I was aggregating, building, and running ENT practices. There was no VC money coming to save the day. Build a proper business plan or die. The same principles apply to DTC health tech. If the current market conditions lead to more startups actually delivering on the promise to make healthcare better for patients while reducing costs, that’s fantastic. So to all my friends out there grinding away at DTC healthcare startups, don't lose hope. Keep putting one foot in front of the other, keep listening to your customers, and keep believing in the power of innovation. The world needs what you're building, even if the valuations don't always reflect it. And to the VCs who are suddenly getting cold feet about DTC healthcare, I have just one thing to say: you're missing out. The startups that emerge from this crucible will be the ones that reshape the industry and deliver outsized returns.

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